~ In reality these things haven’t changed much, but it good to know for you sellers out there and also for the buyers so you know what your competition is looking for ~
More than half of home buyers say they’re on the hunt for a three-bedroom home, and 75 percent want a two-bathroom home as well, according to realtor.com®’s home buyer survey. The survey also showed a strong demand for townhouses and row homes among younger home shoppers, as 40 percent said they are looking for a townhome or row home to purchase. However, as home buyers age, single-family homes clearly are the top preference.
“The insights from our most recent consumer survey provide a glimpse into what buyers are looking at today,” says Sarah Staley, housing expert for realtor.com®. “While we often think of dream homes as being big and bold, that’s not what we’re hearing from potential buyers today. These insights can help guide potential sellers in deciding which rooms or features to invest in before listing their homes.”
Here’s an overview of some of the top features that emerged on buyers’ wish-lists, according to the survey:
The most-searched attributes at realtor.com®: Large backyards, garages, and updated kitchens
These three attributes were popular across all age groups. That said, younger home buyers with young children showed the most desire for finding a large yard and the greatest interest in living near a good school district.
The least-searched features among buyers: a guesthouse, mother-in-law suite, solar panels, and a “man cave.”
The most desired home style: Ranch homes
Forty-two percent of home shoppers say they’re looking for a ranch home, the clear leader. The second most common home style was a contemporary home at 28 percent, followed by Craftsman and Colonial styles.
The favorite room in the home: Kitchens
Eighty percent of home buyers ranked the kitchen as one of their three favorite rooms in a home, followed by master bedroom (49 percent) and living room (42 percent). (However, shoppers over 55 years old preferred garages over living rooms.)
The top goal when searching for a home: Privacy
The majority of home buyers said privacy and having a space that was solely their own was a top goal when in house-hunting mode. Buyers between the ages of 45 and 64 years old tended to value privacy the most, with privacy in the home topping other preferences like stability, family needs, and financial investment among this age group.
What motivates millennial home buyers the most: Family needs
Most millennials surveyed cited life events like an increase in family size, getting married, or moving in with a partner, as what primarily motivated them to find a new home. Home purchasers age 35 to 44 also cited family needs as the top motivation to buy. The majority of this age group also said they wanted to find a better school districts or that changing family circumstances was their motivation to buy. Home buyers over the age of 45, on the other hand, cited a chief motive to move as they were looking to downsize as they plan ahead for retirement.